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Indigo Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials $14,400 Indirect labor 12,000 Utilities Maintenance 9,600 7,200 Actual variable costs were indirect materials $16,200, indirect labor $11,400, utilities $10,440, and maintenance $6,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,960. The actual activity level equaled the budgeted level. Supervisory salaries $43,200 Depreciation 8,400 Property taxes and insurance 9,600 Maintenance. 6,000 All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs) Controllable Costs (b) Prepare a responsibility report for the first quarter. V Budget $ Budget INDIGO INC. Manufacturing Overhead Flexible Budget Report $ Actual $ INDIGO INC. Manufacturing Overhead Responsibility Report Actual D F Un Neith nor I D F Un Neith nor i

Indigo Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials $14,400 Indirect labor 12,000 Utilities Maintenance 9,600 7,200 Actual variable costs were indirect materials $16,200, indirect labor $11,400, utilities $10,440, and maintenance $6,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,960. The actual activity level equaled the budgeted level. Supervisory salaries $43,200 Depreciation 8,400 Property taxes and insurance 9,600 Maintenance. 6,000 All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs) Controllable Costs (b) Prepare a responsibility report for the first quarter. V Budget $ Budget INDIGO INC. Manufacturing Overhead Flexible Budget Report $ Actual $ INDIGO INC. Manufacturing Overhead Responsibility Report Actual D F Un Neith nor I D F Un Neith nor i

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Indigo Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials $14,400 Indirect labor Utilities Maintenance 12,000 9,600 7,200 Supervisory salaries Depreciation Property taxes and insurance Maintenance Actual variable costs were indirect materials $16,200, indirect labor $11,400, utilities $10,440, and maintenance $6,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,960. The actual activity level equaled the budgeted level. Controllable Costs All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) $ (b) Prepare a responsibility report for the first quarter. Budget $ $43,200 8,400 9,600 6,000 Budget $ INDIGO INC. Manufacturing Overhead Flexible Budget Report Actual $ INDIGO INC. Manufacturing Overhead Responsibility Report Actual $ D F Un Neith nor D F Un Neith nor l
Transcribed Image Text:Indigo Inc's manufacturing overhead budget for the first quarter of 2022 contained the following data. Variable Costs Fixed Costs Indirect materials $14,400 Indirect labor Utilities Maintenance 12,000 9,600 7,200 Supervisory salaries Depreciation Property taxes and insurance Maintenance Actual variable costs were indirect materials $16,200, indirect labor $11,400, utilities $10,440, and maintenance $6,000. Actual fixed costs equaled budgeted costs except for property taxes and insurance, which were $9,960. The actual activity level equaled the budgeted level. Controllable Costs All costs are considered controllable by the production department manager except for depreciation, and property taxes and insurance. (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) (a) Prepare a manufacturing overhead flexible budget report for the first quarter. (List variable costs before fixed costs.) $ (b) Prepare a responsibility report for the first quarter. Budget $ $43,200 8,400 9,600 6,000 Budget $ INDIGO INC. Manufacturing Overhead Flexible Budget Report Actual $ INDIGO INC. Manufacturing Overhead Responsibility Report Actual $ D F Un Neith nor D F Un Neith nor l
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